DFCC makes Rs. 915 m profit from 1% COMBank stake sale

Friday, 26 May 2017 00:00 - - {{hitsCtrl.values.hits}}

Melstacorp the buyer; stake now over 4%

DFCC Bank yesterday disclosed that it made a one-off after-tax profit of Rs. 915 million from the sale of a 1% stake in Commercial Bank on Wednesday.

It sold 10 million shares at Rs. 138 each in a deal worth Rs. 1.38 billion.

The buyer was Melstacorp Plc, which previously held a 3.39% stake or 28.65 million shares. DFCC, the largest shareholder in Commercial Bank, held 14.69% as of end March 2017.

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